Solana Price Slips 1% as Network Activity Surges With 14.63 M Active Addresses – Bulls Eye $164 Zone

Highlights:

• Solana’s price drops 1.63% to $149 despite a 15% rise in daily trading volume to $3.67 billion.
• Whale sells 1.459M Fartcoin for 10,509 SOL, making $963k profit after a 3-month hold.
• Over 14.63 million active addresses on the Solana network demonstrate a growing interest in the ecosystem.

As of July 8, the Solana price is down 1.63% to $149, despite the daily trading volume jumping 15% to $3.67 billion. Meanwhile, a major whale has sold 1.459 million Fartcoin to buy 10,509 Solana (SOL) tokens. Such a transaction occurred on Binance, and the whale achieved a substantial win of $ 963,000, as he had bought 5,171 SOL three months earlier for $606,000. This shift in the whale’s position can be attributed to the increased demand for Solana, as both institutions and smaller investors are finding support in the token.

A whale has sold for 1.459M $FARTCOIN for 10,509 $SOL ($1.57M), at a price of $1.07, and deposited it into #Binance.

The whale bought these $FARTCOIN for 5,171 $SOL ($606K), 3 months ago, making a profit of $963K.

Address: AGF8NeiyY4zhFLuFW4qRQyFLRvNhuDsNsHYVD8435yNG

Data… pic.twitter.com/aoOJXb2F8D

— Onchain Lens (@OnchainLens) July 8, 2025

Along with the activities of this whale, the Santiment data reveal an outstanding growth in the usage of the Solana network. Over 14.63 million active accounts have communicated with the Solana blockchain over the past 24 hours. 

Activity on the Solana $SOL network has surged, with over 14.63 million active addresses in the last 24 hours, shows data from @santimentfeed. pic.twitter.com/WpZvAhdaYv

— Ali (@ali_charts) July 8, 2025

This increased activity in the network is an indication that more people have become interested in the Solana ecosystem. Moreover, the bullish trend of the SOL token is expected soon. The spike in the number of active addresses is especially impressive, as it demonstrates the growing popularity of DeFi platforms on Solana.

Solana Price Shows Signs of a Slow Rebound

The Solana price is attempting to break out of a falling wedge pattern, as the bears are showing dominance. The bulls are eyeing the immediate resistance zones at $154 and $164, where a breach above these levels would likely call for further upside. In the meantime, the beras have the upper hand, as the bulls attempt to regain strength. If they close above the $154 area, a short-term rally in the SOL market could be imminent.

The Relative Strength Index (RSI) is currently at 49.51, indicating a neutral market state under Solana’s control. A value above 50 on the RSI indicates that the price may move in a bullish direction, whereas a value below 50 suggests that the bears may exert power. The indecision of the market also allows a breakout to occur in the event of a shift in sentiment towards the bulls. 

Additionally, the Moving Average Convergence Divergence (MACD) is also displaying a positive buildup, with the MACD line surpassing the signal line. This indicates that buying pressure is gradually increasing. The reduction in the distance between the two lines may indicate that the coin is poised to switch to bullish momentum, and Solana may take a positive direction.

What’s Next for SOL?

Solana price is facing major resistance at both $156 and $165. A breakout of these levels would indicate that bulls have dominated, and a possible price rally towards the resistance at $177, $185, and even beyond $200 in the medium term is likely to occur.

On the downside, if the resistance levels prove too strong, the $139-$129 safety net will cushion against further dips. A close below the area will see further downside towards $110, as the bulls regroup for another bounce back.